Lenovo Set To Close $2.1 Billion Server Deal With IBM

Posted by samzenpus on Monday September 29, 2014 @02:15AM from the power-up dept.

An anonymous reader writes Lenovo has announced that it will be closing the acquisition deal of IBM's x86 server business on October 1. The closing purchase price is lower than the $2.3 billion announced in January because of a change in the valuation of inventory and deferred revenue liability, Lenovo said. Roughly $1.8 billion will be paid in cash and the remainder in stock. Lenovo says it had "big plans" for the enterprise market. "We will compete vigorously across every sector, using our manufacturing scale, and operational excellence to repeat the success we have had with PCs," the company added.

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Re:IBM is dying by Anonymous Coward · 2014-09-29 02:57 · Score: 5, Informative

Lenovo's not an IBM spinoff, it's a Chinese electronics manufacturer, a company with a separate past. They had enough cash to buy IBM's thinkpad business, then the desktops, and now some of the Intel servers.